Section 27, Funds and Other Related Measures) Regulations, 2013

(1) Where the name of a person or an entity is verified tobe on the designated list, the reporting entity shall block the funds or any other economic resources belonging to or connected to that person or entity and shall forthwith submit a suspicious transaction report to the Unit. (2) A report of a suspicious transaction made by an entity under sub-regulation (1), shall state– (a) the information or other matter on which the knowledge or suspicion is based; (b) any information it holds about the person or group by which the person or group can be identified and the nature and the amount or quantity of any funds or economic resources held by the reporting entity for the person or group at any time up to 5 years prior to the designation being made. (3) A person contravenes sub-regulation (1) if he deals with the funds or other economic resources, knowingly, or having reasonable cause to suspect that the funds or economic resources were owned or controlled by a designated person or entity and fails to file a suspicious transaction report. 10 11 Determining owner of funds. Funds controlled by third party. Blocking of funds after verification. Coordination of efforts. Funds held within Sierra Leone. Third party rights. List issued by UN etc. Freezing order. PART VI–EMERGENCY PREVENTIVE FREEZING MEASURES BY THE UNIT